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Medtecs reports record FY20 earnings of US$131.7 mil on global surge on PPE demand

Felicia Tan
Felicia Tan3/1/2021 11:59 AM GMT+08  • 3 min read
Medtecs reports record FY20 earnings of US$131.7 mil on global surge on PPE demand
A final cash dividend of 4.18 US cents per share has been declared.
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Medtecs International Corp, a maker of medical apparel, has reported record earnings of US$131.7 million ($175.4 million) for the FY2020 ended December, compared to earnings of US$1.2 million for the FY2019.

The record earnings comes as the group reported record revenue of US$400.3 million for the FY2020 compared to revenue of US$69.0 million the year before, due to the global surge in demand for personal protective equipment (PPE) arising from the Covid-19 pandemic.

The higher earnings were also attributable to improved economies of scale and higher proportion of sales of Medtecs-branded product and PPEs.

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